Federated Hermes Inc. Buys Shares of 569,139 PENN Entertainment, Inc. (NASDAQ:PENN)

Federated Hermes Inc. purchased a new position in PENN Entertainment, Inc. (NASDAQ:PENN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 569,139 shares of the company's stock, valued at approximately $11,280,000. Federated Hermes Inc. owned about 0.37% of PENN Entertainment at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. IFP Advisors Inc raised its stake in shares of PENN Entertainment by 201.5% in the 4th quarter. IFP Advisors Inc now owns 1,574 shares of the company's stock valued at $31,000 after acquiring an additional 1,052 shares in the last quarter. Modus Advisors LLC acquired a new position in PENN Entertainment during the fourth quarter valued at approximately $63,000. Lee Danner & Bass Inc. bought a new position in shares of PENN Entertainment in the fourth quarter valued at approximately $92,000. KBC Group NV lifted its stake in shares of PENN Entertainment by 36.5% in the fourth quarter. KBC Group NV now owns 5,501 shares of the company's stock worth $109,000 after buying an additional 1,470 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of PENN Entertainment by 914.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 6,492 shares of the company's stock worth $119,000 after buying an additional 5,852 shares during the period. Institutional investors own 91.69% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PENN shares. Macquarie reissued an "outperform" rating and set a $26.00 target price on shares of PENN Entertainment in a research report on Friday, February 28th. JMP Securities reissued a "market perform" rating on shares of PENN Entertainment in a research report on Thursday, January 16th. Jefferies Financial Group increased their target price on PENN Entertainment from $21.00 to $22.00 and gave the company a "hold" rating in a research note on Friday, January 3rd. Wells Fargo & Company lifted their price target on PENN Entertainment from $20.00 to $24.00 and gave the stock an "equal weight" rating in a research report on Monday, March 3rd. Finally, Benchmark reiterated a "hold" rating on shares of PENN Entertainment in a report on Monday, March 3rd. Ten investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $23.56.

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PENN Entertainment Trading Up 0.5 %

NASDAQ PENN traded up $0.07 on Monday, reaching $14.40. The company had a trading volume of 1,666,676 shares, compared to its average volume of 4,517,296. PENN Entertainment, Inc. has a 52 week low of $13.25 and a 52 week high of $23.08. The stock's 50 day moving average is $18.44 and its 200-day moving average is $19.27. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 2.34. The stock has a market cap of $2.20 billion, a price-to-earnings ratio of -4.06, a PEG ratio of 1.55 and a beta of 1.96.

PENN Entertainment Company Profile

PENN Entertainment, Inc, together with its subsidiaries, provides integrated entertainment, sports content, and casino gaming experiences. The company operates through five segments: Northeast, South, West, Midwest, and Interactive. It operates online sports betting in various jurisdictions; and iCasino under Hollywood Casino, L'Auberge, ESPN BET, and theScore Bet Sportsbook and Casino brands.